A daily dose of market updates to guide your investment decisions.
June 3, 2026
Chart of the Day
US job openings rose to 7.62 million in April 2026, the highest since May 2024, higher than the 6.87 million consensus and the previous month's upwardly revised figure of 6.89 million. The increase was concentrated in high-skill industries amid rising demand for specialized roles linked to AI and advanced business operations. Sources: Bloomberg, Bureau of Labor Statistics
Financial market updates
The USD/PHP exchange rate dipped 0.6 centavos lower at 61.74 on Tuesday, and immediately touched all-time highs of 61.75 after the dollar strengthened overnight on upbeat US Purchasing Managers' Index data.
Elevated oil prices stemming from the lack of progress regarding US-Iran negotiations also added pressure to the peso, with the pair stuck in a tight 61.74-75 range for most of the morning.
Sizable supply at 61.75 continued to cap the rally, prompting selling action in the afternoon as offshore non-deliverable forwards fell, with corporate demand still patient for better levels.
The USD/PHP pair ultimately closed at 61.675, or 7 centavos lower day-on-day.
The current support levels of USD/PHP remain at 61.00/30, while the resistance levels are 61.75/62.00.
Risk appetite in the peso government securities market remained subdued as investors continued to assess the US-Iran conflict.
Yesterday afternoon's FXTN 20-17 (5Y) reissuance saw decent interest, resulting in a bid-to-cover ratio of 1.94x and an average awarded yield of 7.400%.
The Bureau of the Treasury opened its tap facility to draw in more volume, but could only secure an additional PHP 9.499 billion out of the PHP 10 billion offered.
Market reaction remained muted following the auction. Overall, local yields ended 1–5 basis points higher across the curve.
Bloomberg’s estimate of the May local inflation, which will be released on June 5, is 7.90%. A stronger figure could pressure the central bank to be more aggressive on rate hikes.
Metrobank Research, however, forecasts a softer figure of 7.30%, which, if realized, may prompt a short-term repricing of bond yields lower. Otherwise, local bond prices are expected to remain sensitive to geopolitical headlines.
The Philippine Stock Exchange index ended 113.37 points higher at 5,912.69 on Tuesday, as investors continued to rebuild positions, taking their cue from Wall Street’s overnight strength and a firmer global risk backdrop.
Value turnover rose to PHP 6.06 billion, while market breadth turned constructive with 98 advancers against 79 decliners.
Foreign investors also returned to the buy side, posting net purchases of PHP 628.72 million, a notable shift from last week's heavy liquidation.
International Container Terminal Services Inc. (+6.41%) was the clear standout, accounting for the bulk of the advance, while gains in DigiPlus Interactive Corp. (+3.98%), Jollibee Foods Corp. (+3.29%), and Aboitiz Equity Ventures Inc. (+3.23%) provided a
Meanwhile, losses in Ayala Corp. (-3.21%) and Century Pacific Food Inc. (-4.76%) did little to derail the rally, highlighting the improved risk appetite.
The report above is circulated for general information only. The opinions expressed are solely those of the contributors and are based on prevailing market conditions and public sources that are believed to be reliable. Metrobank and the report contributors/support staff do not make any guarantees or representation as to the accuracy, completeness or suitability of this report.
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